Business Overview & Operational Highlights

Company Foundation & Network: Founded in 2009 by Dr. Manika Khanna and Dr. Peeyush Khanna. Currently operates 9 hubs + 38 spokes across 9 states in India.

Clinical Performance Metrics:

  • Number of Oocyte Pick-Ups (OPU): 889
  • Success Rates: First Attempt - 62%, Multiple Attempts - 85%
  • Average Revenue Per Patient: ₹3.07 lakh
  • Early results show 8-9% increase in success rates with AI tools SiD & ERICA

AI Initiatives: The company utilizes two proprietary AI tools:

  • SiD: AI-powered embryo selection
  • ERICA: AI-powered treatment protocol

Strategic Positioning: The company claims several industry firsts:

  • First listed IVF company in India
  • First No. 1 IVF clinic ranking as per Times of India Health Survey
  • First IVF chain to introduce Artificial Intelligence in infertility treatment
  • First IVF company to receive European Quality Award

Expansion Plans: The company plans to add 8 new centers by FY29, with 1 new center already added in the current period.

Center Details: The presentation includes a detailed table of center-wise information for 9 locations (Janakpuri Delhi, Chander Nagar Delhi, Ludhiana, Patna, Mumbai, Bengaluru, Srinagar, South Delhi, Gurgaon) showing:

  • State locations
  • Date of commencement (ranging from 2009 to 2026)
  • Ownership structure (primarily rental)
  • Number of beds (3-15 per center)
  • Number of operation theaters (1 per center)
  • IVF facility availability (all centers)
  • ART Level (mostly Level-2)

Acquisition History: The company acquired Gaudium IVF and Gynae Solutions (proprietary firm of Dr. Manika Khanna) and Gaudium Bawa IVF business pursuant to Slump Sale Agreement dated February 2, 2023.

Financial Performance - Standalone (₹ Lakhs)

Q2 FY27 Performance:

  • Revenue from Operations: ₹2,805.68 (22.27% YoY growth from ₹2,294.58 in Q2 FY26)
  • EBITDA: ₹1,172.84 (11.66% decline YoY from ₹1,327.65)
  • EBITDA Margin: 41.80% (down 1,606 bps from 57.86%)
  • PAT: ₹819.97 (9.15% decline YoY from ₹902.54)
  • PAT Margin: 29.23% (down 1,010 bps from 39.33%)

QoQ Performance (Q2 vs Q1 FY27):

  • Revenue growth: 105.13% from ₹1,367.73
  • EBITDA growth: 439.49% from ₹217.40
  • PAT growth: 392.93% from ₹166.35

H1 FY27 Performance:

  • Revenue from Operations: ₹4,173.41 (18.50% YoY growth from ₹3,521.90)
  • EBITDA: ₹1,390.24 (20.43% decline YoY from ₹1,747.22)
  • EBITDA Margin: 33.31% (down 1,630 bps from 49.61%)
  • PAT: ₹986.31 (13.27% decline YoY from ₹1,137.23)
  • PAT Margin: 23.63% (down 866 bps from 32.29%)

Full Year FY26 Reference: Revenue from Operations: ₹7,157.85, EBITDA: ₹3,456.60, PAT: ₹2,228.77

Management Commentary on Margins: Margins narrowed due to marketing strategy and costs associated with rolling out new hubs, which are still in their early ramp-up phase and carry high fixed costs.

Financial Performance - Consolidated (₹ Lakhs)

Q2 FY27 Performance:

  • Revenue from Operations: ₹3,741.11 (17.90% YoY growth from ₹3,173.04)
  • EBITDA: ₹1,346.95 (2.13% decline YoY from ₹1,376.20)
  • EBITDA Margin: 36.00% (down 737 bps from 43.37%)
  • PAT: ₹941.31 (0.36% growth YoY from ₹937.91)
  • PAT Margin: 25.16% (down 440 bps from 29.56%)

QoQ Performance (Q2 vs Q1 FY27):

  • Revenue growth: 93.07% from ₹1,937.66
  • EBITDA growth: 455.65% from ₹242.41
  • PAT growth: 430.04% from ₹177.59

H1 FY27 Performance:

  • Revenue from Operations: ₹5,678.77 (14.73% YoY growth from ₹4,949.88)
  • EBITDA: ₹1,589.36 (16.14% decline YoY from ₹1,895.23)
  • EBITDA Margin: 27.99% (down 1,030 bps from 38.29%)
  • PAT: ₹1,118.91 (10.53% decline YoY from ₹1,250.56)
  • PAT Margin: 19.70% (down 556 bps from 25.26%)

Full Year FY26 Reference: Revenue from Operations: ₹10,435.70, EBITDA: ₹3,770.40, PAT: ₹2,448.85

Management Commentary: Revenue growth driven mainly by IVF business. EBITDA and PAT remained largely flat due to marketing strategy and new hub costs, partly offset by hospital and pharmacy businesses.

Balance Sheet Position - Standalone (as of September 30, 2026)

Sources of Funds:

  • Equity Share Capital: ₹3,639.34 lakh (unchanged from March 31, 2026)
  • Other Equity: ₹12,262.05 lakh (increased from ₹11,287.14 lakh)
  • Net Worth: ₹15,901.39 lakh (increased from ₹14,926.48 lakh)
  • Lease Liabilities: ₹1,529.10 lakh (non-current), ₹260.44 lakh (current)
  • Total Source of Funds: ₹18,419.97 lakh

Application of Funds:

  • Property, Plant and Equipment: ₹716.75 lakh
  • Right of Use Asset: ₹2,050.89 lakh
  • Other Intangible Assets: ₹2,241.37 lakh
  • Cash and Cash Equivalents: ₹2,020.45 lakh
  • Trade Receivables: ₹3,283.39 lakh

Balance Sheet Position - Consolidated (as of September 30, 2026)

Sources of Funds:

  • Equity Share Capital: ₹3,639.34 lakh (unchanged from March 31, 2026)
  • Other Equity: ₹12,675.20 lakh (increased from ₹11,590.87 lakh)
  • Net Worth: ₹16,314.54 lakh (increased from ₹15,230.21 lakh)
  • Lease Liabilities: ₹1,529.10 lakh (non-current), ₹260.44 lakh (current)
  • Total Source of Funds: ₹20,042.46 lakh

Application of Funds:

  • Property, Plant and Equipment: ₹922.37 lakh
  • Right of Use Asset: ₹2,050.89 lakh
  • Other Intangible Assets: ₹2,241.37 lakh
  • Cash and Cash Equivalents: ₹2,048.56 lakh
  • Trade Receivables: ₹4,530.30 lakh

Cash Flow Statements

Standalone Cash Flows (H1 FY27):

  • Cash from Operating Activities: ₹2,240.42 lakh
  • Cash from Investing Activities: ₹1,509.18 lakh
  • Cash from Financing Activities: (₹2,582.84) lakh
  • Net Increase in Cash: ₹1,166.76 lakh

Consolidated Cash Flows (H1 FY27):

  • Cash from Operating Activities: ₹1,976.54 lakh
  • Cash from Investing Activities: ₹1,506.12 lakh
  • Cash from Financing Activities: (₹2,312.67) lakh
  • Net Increase in Cash: ₹1,169.99 lakh

Market Data & Shareholding

Key Market Data (as of September 2026):

  • Shares Outstanding: 7,27,86,884
  • Share Price: ₹111.10 (as of September 30, 2026)
  • Market Capitalization: ₹808.66 crore
  • Industry: Healthcare Service Provider

Additional Information

Insurance Partnership: Partnership with Carepay (Carecoin Technologies Private Limited) and Care Health Insurance providing coverage of up to ₹3 lakh for eligible couples.

CSR Initiative: Ladli Shiksha & Swasthya Initiative covering 4 government schools, focusing on education access, health literacy, and life-skills development for EWS and marginalized communities.

Awards and Recognition: The company has received 34 awards including recognition from Oxford Academy, Times Healthcare Achievers, BusinessWorld Awards, Indian Medical Association, and others between 2013-2021.

Case Studies: Presentation includes 10 remarkable success cases from 2009-2020 involving complex medical conditions and previously failed IVF attempts.

Contact Information:

  • Rakesh Kumar Sharma (CFO): cfo@gaudiumivfcentre.com
  • Investor Relations contacts through Adfactors PR: Rushabh Shah, Anand Venugopal, Naomi Fernandes